Gold Stocks Cap Best August in Decades in Debasement Trade Redux - Advisor Perspectives
Gold Stocks Cap Best August in Decades in Debasement Trade Redux - Advisor Perspectives
Source: Advisor Perspectives
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DW NOTE
Gold miners posted their strongest August since the 1990s on the same thesis that drove the January spike to $5,318: central banks are running structural deficits with no exit. The metal is down 15.6% from that peak, but the fiscal position hasn't improved — the US deficit is up 3% year-on-year through June at $1.4 trillion, and rate hike odds sit at 56% for September even as growth forecasts get revised down. The debasement trade didn't end; it paused while everyone pretended normalcy had returned.